NEW PENSION SCHEME

NEW PENSION SCHEME

24-OCT-ENG 2

RAJIV NAYAN AGRAWAL

DELHI------------------------------The Central Government has modified the procedure for transferring pension cases from the National Pension System (NPS) to the Old Pension Scheme (OPS). A revised Standard Operating Procedure (SOP) has been implemented to simplify the transition from the NPS to the OPS, which will assist the concerned pensioners and their families in completing pension-related formalities. This change applies to eligible cases where the option to switch from the NPS to the OPS is exercised following the death or disability of a government employee. The new SOP will replace the existing guidelines.

In this regard, the Ministry of Finance has stated that a revised SOP has been approved to address the difficulties encountered during the transfer process and to streamline it. Relevant authorities and departments have been instructed to implement the new procedure and ensure that all concerned individuals are informed about its provisions. The objective of this change is to make the settlement of pension-related matters smoother and to minimize complications in the process.

Once the transfer from the NPS to the OPS is completed, a new regular Pension Payment Order (PPO) will be issued to the eligible pensioner. The responsibility for preparing and issuing this document lies with the respective government offices and pension officers. Upon receiving the new PPO, the pensioner must submit their old Provisional Pension Payment Order (PPPO) to their bank. The bank will then forward the necessary copies of the old documentation to the relevant authorities.

Additionally, as in previous years, pensioners are required to submit their 'Life Certificate' (Jeevan Pramaan Patra) in November. This requirement remains unchanged despite the implementation of the new SOP; therefore, eligible pensioners must ensure they adhere to the deadline for submitting their Life Certificate. The government has noted that the previous process for transferring pension cases from the NPS to the OPS involved several challenges, and this new procedure has been adopted to resolve those issues. An NPS central platform has also been launched as part of the initiative to digitize pension services. Through this platform, investors associated with the NPS can access features such as registration, making investments, and managing their pension accounts—all via a unified digital interface.